My daily readings 05/23/2010

Tip1: Start from Epicenter of the idea, product
Epicenter is the core and what a product stands for. Stick to/start with what product stands for and only build features that defines you and your business. Build half the products that you want to build, but not half assed product; cutting out what is merely good, only keep the core and the best.

Building a product for a new business should be the same way, instead of setting up long term goals, 3 months long feature sets plan, breaking them down to mini-sets, weekly feature-sets-milestone will make you aware of your progress more, bringing more motivation and fuel to keep going strong. This is how I am building mine now.

Tip3: Constrain is the resource and Outside money is plan Z
I love this tip. Never take outside money before you build out the epicenter of your product. Resource constraint is a good thing that will force us to build only the most necessary to launch the core of our product, our business, our service.

74 percent of the 27 companies are either profitable or have received commitments for outside funding, YC said today. And at least a handful of those rounds were for over $1 million, we’ve been told.

Recent acquisitions of companies from the Y Combinator program include reMail and AppJet, both by Google. As to which of the companies YC thinks are the most promising, here’s the list it included in the post: “Airbnb, Bump, Cloudkick, Clustrix, DailyBooth, Disqus, Dropbox, Heroku, Heyzap, Justin.tv, Loopt, Posterous, RethinkDB, Reddit, Scribd, Songkick, Weebly, Wepay, Wufoo, and Xobni.”